With every new high it makes bitcoin gets knocked back about 2-300 dollars , indicative of heavy sell orders meant to defend the 10k level. Let's see if the market can eat thru that and advance some more to complete the assigned wave counts for a full impulse pattern. On the daily charts we are looking at this as either the wave 5 of larger 3, or wave 5 of larger 5 of larger 1. The implications are the same and call for a terminal move followed by either a wave 4 pullback or a larger wave 2 pullback. How far this 5th wave will travel remains to be seen with some estimates between 10,200 - 10,700 . I won't hang my hat on that but rather watch the reaction and let the market decide where the top is, for as we know markets can run longer then people can stay solvent. Bellow 8850 zone the correction might extend a bit but only to get more orders before a new assault will begin.
Visit my 3 telegram channels focused on crypto, forex and commodities , where I will be updating more charts and more frequent analysis along with live market commentary. Since i cannot post links here , if you want to join you can go to telegram and search for "cowboy forex markets" , "cowboy crypto markets" and "cowboy commodities markets" . They are free and we will focus only on elliot wave learning and discussions.
Visit my 3 telegram channels focused on crypto, forex and commodities , where I will be updating more charts and more frequent analysis along with live market commentary. Since i cannot post links here , if you want to join you can go to telegram and search for "cowboy forex markets" , "cowboy crypto markets" and "cowboy commodities markets" . They are free and we will focus only on elliot wave learning and discussions.